Auto
Ontario’s brokers are “extremely pleased” with the decision to remove the cap on towing and storage costs that had been part of a package of reforms to the province’s auto insurance system.Insurance Brokers Association of Ontario (IBAO) CEO Bob Carter met with Mike Colle, parliamentary assistant to the Minister of Finance and the man responsible […]
By Canadian Underwriter | March 11, 2004
1 min read
Expectations are that the $300 cap on vehicle towing and storage costs to be in force in Ontario by mid-April will now be dropped. The Collision Industry Action Group (CIAG) says that sources close to Michael Colle, parliamentary assistance responsible for insurance reform, are reporting the cap will be canned, and a Toronto Sun article […]
By Canadian Underwriter | March 10, 2004
The Insurance Corp. of B.C. (ICBC), the province’s public auto insurer, says two arrests have been made as part of an ongoing investigation of fraudulent driver licenses. ICBC has also launched a civil suit against the owner of a Richmond, B.C. driving school, alleging driver licenses were issued for a fee without the required testing […]
Capping a five-year legal battle, the Insurance Corp. of B.C. the province’s public auto insurer has won a B.C. Supreme Court verdict for $190,000 against a fraudulent bodyshop.Eurosport Auto Co. Ltd. and its owner, Frederick Ngok Hwang, were ordered to pay $75,000 and $115,000 punitive damages for submitting bills for work that was never done […]
By Canadian Underwriter | February 24, 2004
For the first three quarters ending November 30, 2003, Manitoba Public Insurance (MPI) is reporting growth in net income to $38.7 million, up from $23.1 million for the same period a year earlier. Investment income was almost double, hitting $85.4 million for the first nine months of the 2003 fiscal year, versus $45.8 million for […]
January 31, 2004
About 90% of the auto insurance companies in Alberta had filed for rate rebates or credits as of January 14, although customers may wait months to actually receive their rebate.The rollbacks are part of a provincial government plan to reform the auto insurance system which began with a rate freeze on October 30, 2003, and […]
By Canadian Underwriter | January 20, 2004
For the first three quarters ending November 30, 2003, Manitoba Public Insurance (MPI) is reporting growth in net income to $38.7 million, up from $23.1 million for the same period a year earlier.Investment income was almost double, hitting $85.4 million for the first nine months of the 2003 fiscal year, versus $45.8 million for the […]
By Canadian Underwriter | January 15, 2004
To bring fraud fighting into the spotlight, Manitoba Public Insurance (MPI), the province’s government auto insurer, has released its first ever “top five frauds” list.Topping the list is a Winnipeg man who dumped and set fire to his mother’s car rather than buy her a new one. Investigation by MPI’s special investigation unit (SIU) resulted […]
By Canadian Underwriter | January 8, 2004
2 min read
Manitoba Public Insurance (MPI) has broken its six-year rate freeze, and will hike basic auto insurance rates by 3.7% for 2004. The province’s Public Utilities Board (PUB) ordered the increase, which will add about $30 to the average family passenger vehicle premium. New rates kick in as policies renew after March 1, 2004. Rising claims […]
December 31, 2003
Statistics Canada data on auto insurance premiums is not only misleading, it caused the Bank of Canada to incorrectly hike interest rates, suggests a new study by right-wing think tank The Fraser Institute. The study says that StatsCan has been incorrectly measuring auto insurance inflation for the last seven years, overstating provincial auto insurance increases […]
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